Qatar Airways posts 28% jump in net profit to record $2.1 billion

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Qatar Airways posts 28% jump in net profit to record $2.1 billion

DOHA (Reuters) -Qatar Airways posted a 28% jump in annual net profit to a record 7.8 billion Qatari riyals ($2.1 billion), according to a preliminary statement issued by the airline on Monday.

“We have also successfully implemented strategic partnerships throughout the industry, in order for the Group to remain agile in the face of ever-shifting world events, whether political, economic or environmental,” CEO Badr Mohammed Al-Meer was quoted as saying in a statement from the airline.

The government-owned airline’s revenue and passenger data from the last year were not yet available. The airline’s complete annual report was expected to be published on Monday morning.

In the last year, Qatar Airways, seeking to boost passenger numbers and connectivity, bought a 25% stake in Virgin Australia and a 25% stake in South Africa-based regional carrier Airlink.

The airline placed a firm order last week for 160 Boeing 777X and 787 planes with GE Aerospace engines worth $96 billion, the largest widebody deal ever for the companies. Qatar Airways has options to buy 50 more of the Boeing jetliners.

The airline’s Chief Commercial Officer Thierry Antinori told Reuters in March that the Qatari airline had seen above-market growth in passenger numbers from April 2024 until January this year, up 9% throughout its network, up 14% in Europe and up 12% in Germany.

(Reporting by Andrew Mills; Editing by David Holmes)

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